Business
Crypto
Markets
INDIA
Stocks
A recent report reveals that income inequality in India in 2023 was higher than in the 1950s. The Gini coefficient, which measures income inequality, stood at 0.410 in 2023, up from 0.371 in 1955. The pandemic worsened inequality, with the Gini coefficient peaking at 0.528 in 2021.
The report highlights that wealth remains concentrated among the top earners, while the bottom 10% continue to struggle. For rural areas, the Gini coefficient was 0.405 in 2023, up from 0.341 in 1955. In urban areas, it slightly declined to 0.382 from 0.392.
The report suggests that investments in education, healthcare, and infrastructure, especially in rural areas, along with social safety nets and progressive taxation, are crucial for equitable growth. Social welfare schemes like MGNREGA and DBT have slightly increased the income share of the bottom 50%.
